Gold prices are soaring again.

World gold prices ended the trading week at $2,716.9 per ounce, up $47.2 per ounce from yesterday, November 22nd.

Gold prices recovered strongly throughout the past week - Photo: THANH HIEP

Gold prices are heading towards a record high of $2,787.1 per ounce.

After five consecutive upward sessions, the price of gold in the world market has increased by approximately $162 per ounce, equivalent to 4.98 million VND per tael.

World gold prices rebounded after plummeting $227.8 per ounce from their peak in just one week following the US presidential election results.

In previous US presidential elections, world gold prices typically experienced significant and prolonged declines. However, in this election, after the sharp drop, world gold prices recovered very quickly and are now only $70.2 USD/ounce away from their previous peak.

The recovery in global gold prices has caused domestic gold prices to surge dramatically in recent days.

SJC company listed the price of gold bars at 87 million VND/ounce for selling and 85 million VND/ounce for buying. Compared to a week ago, the price of SJC gold bars has increased by 3.5 million VND/ounce for selling and 5 million VND/ounce for buying.

Meanwhile, the selling price of 9999 gold rings at SJC Company has increased by 4.1 million VND/ounce in the past week. The buying price of 9999 gold rings has increased by 5.2 million VND/ounce, reaching 85 million VND/ounce.

Currently, the buying price of gold rings and gold bars is the same, while the selling price of gold rings is only 500,000 VND/ounce lower than the price of gold bars.

Will the price of SJC gold bars return to the 90 million VND/ounce mark?

Based on the exchange rate listed at the bank, the world gold price is equivalent to 83.6 million VND per tael.

With the recent recovery rate, domestic and international gold prices have nearly regained what they lost previously. The selling price of gold bars is now only 3 million VND/ounce lower than before the election, while the price of 9999 gold rings is 2.5 million VND/ounce lower than its peak.

The difference between the buying and selling price of gold has narrowed, to 1 million VND/ounce for gold rings and 2 million VND/ounce for SJC gold bars.

At Bao Tin Minh Chau Company, the selling price of gold rings today is 86.58 million VND/ounce, and the buying price is 85.63 million VND/ounce.

DOJI also increased the selling price of 9999 gold rings to 86.6 million VND/ounce, while the buying price remained at 85.6 million VND/ounce.

Compared to the converted world gold price, the price of SJC gold bars is currently 3.4 million VND/ounce higher, while the price of gold rings is 2.9 million VND/ounce higher.

Please see the latest updates on domestic gold prices HERE.

Source: https://tuoitre.vn/gia-vang-lai-tang-thang-dung-20241123141248721.htm